Mistakes were made. That was the takeaway from the House Judiciary Committee hearing yesterday to investigate “the allegations of misconduct and articles of impeachment” filed against Internal Revenue Service (IRS) Commissioner John Koskinen.
Read MoreYear: 2016
IRS Commissioner To Appear Before Congress Today To Answer Allegations Of Misconduct
The House Judiciary Committee will hold a third hearing today to examine “the allegations of misconduct and articles of impeachment” filed against IRS Commissioner John Koskinen. Koskinen will be the sole witness to testify before the Committee.
Read MoreDivorce & Tax Lessons You Can Learn From Brad Pitt & Angelina Jolie
Actress Angelina Jolie has filed for divorce from actor Brad Pitt, citing “irreconcilable differences.” From alimony to child support, here’s what you need to know about divorce and taxes.
Read MoreMan Indicted For Filing Multiple False Tax Returns, Interfering With IRS
A North Carolina man has been indicted by a federal grand jury on charges of tax fraud. Billy D. Floyd, of Monroe, North Carolina, is accused of interfering with the due administration of the internal revenue laws and filing false income tax returns.
Read MoreTax Related Penalties For 2017 Are On The Way Up
The Internal Revenue Code imposes a number of penalties for failure to file returns, failure to furnish information returns, and failure to pay tax which affect individuals, companies, trusts, and estates. Many of those penalties are now tied to annual inflation adjustments, which means that they vary from year to year. In addition, a number of penalties, including those aimed at tax preparers have dramatically increased. Here’s what you need to know.
Read MorePredictions For 2017 Tax Rates, Brackets & Deduction Amounts Look Like (Mostly) Good News
Today, Bloomberg BNA released their predictions for 2017. The good news? Many individuals and businesses can look forward to potentially lower tax liability because of higher deductions and credits.
Read MoreHouse Skips Impeachment Vote For IRS Commissioner, Schedules Hearing Instead
It was widely expected that members of the House Freedom Caucus would force a vote this morning to impeach Koskinen over allegations tied to his handling of the investigation into the IRS tax exempt organization scandal. As it turns out, there won’t be a vote today after all.
Read MoreFighting Tax Related ID Fraud With Your Cell Phone, One Selfie At A Time
The IRS and state tax authorities have been exploring ways to combat tax fraud while still ensuring that honest taxpayers receive their refunds in a timely manner. The Alabama Department of Revenue is hoping that new technology will help them stay ahead of scammers and thieves. All it takes is a cell phone.
Read MoreLawsuit Filed Against Philadelphia In Effort To Stop Soda Tax
The American Beverage Association, together with a number of other businesses, including beverage distributors and retailers, have filed a lawsuit to stop Philadelphia from collecting the tax, claiming that it’s illegal under state law.
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A Look Back At Oprah’s Ultimate Car Giveaway
On this day in 2004, amid the shrieks, 276 members of talk show host Oprah Winfrey’s studio audience each found themselves with a new Pontiac G-6 sedan.
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